Meticulous Research®—leading global market research company published a research report titled ‘Mealworms Market by Product Type (Whole Mealworm, Mealworm Powder, Mealworm Meal), Application (Animal Feed, Aquafeed, Pet Food, Food & Beverages), End Use (Animal Nutrition, Human Consumption)—Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the mealworms market is expected to record a CAGR of 25.8% from 2022–2030 to reach $1.27 billion by 2030. The growth of this market is driven by factors such as the increasing greenhouse gas emissions from the livestock and poultry industries, the high nutritional value of mealworms, environmental benefits of edible mealworms consumption, and the lower risk of zoonotic diseases with insect consumption compared to the consumption of animal-derived products. However, the risk of allergic reactions due to the consumption of mealworms is expected to restrain the growth of this market to a notable extent.
The mealworms market is segmented by product type, application, end use, and geography.
Based on product type, the mealworms market is segmented into whole mealworm, mealworm meal, mealworm powder, and other products. In 2022, the whole mealworm segment is expected to account for the largest share of the mealworms market. This segment is also slated to register the highest CAGR during the forecast period of 2022–2030. The growth of this segment is mainly attributed to the rising preference for whole mealworms by food & feed manufacturers for further processing due to their easy availability and cost-effectiveness.
Based on application, the mealworms market is segmented into animal feed, aquafeed, pet food, food & beverages, and other applications. The food & beverages segment is slated to register the highest CAGR during the forecast period of 2022–2030. The rapid growth of this segment is driven by the rising awareness about the importance of nutrition, growing usage of protein supplements due to the health benefits of daily protein intake, and increased incorporation of mealworms in bakery products and snacks.
This research report also analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Netherlands, Belgium, France, Denmark, Finland, Germany, and the rest of Europe), Asia-Pacific (Thailand, China, South Korea, Vietnam, Malaysia, and the rest of Asia-Pacific), Latin America, and the Middle East & Africa.
North America is slated to register the highest CAGR in the mealworms market during the forecast period of 2022 to 2030. The high market growth in North America is driven by the rising demand for environment-friendly protein-rich food. In addition, the growing awareness about insects-as-food, decreasing neophobia, and the altering attitudes of consumers towards insects as food products are expected to create significant opportunities for the growth of the mealworms market.
Some of the key players operating in the mealworms market are Protix B.V. (Netherlands), Ÿnsect SAS (France), BETA HATCH (U.S.), Armstrong Crickets Georgia (U.S.), TEBRIO (Formerly MealFood Europe SL) (Spain), Tebrito AB (Sweden), Entec Nutrition (U.K.), Invertapro AS (Norway), Keil Co., Ltd (South Korea), EntoBreed Farming BV (Netherlands), and Goterra (Australia).
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